Little Black Bag nabs USD8million for social shopping

Social e-commerce site Little Black Bag has raised USD8 million in a Series B funding round led by GRP Partners, with participation from DCM. The Los Angeles-based company allows users to buy personalised mystery bags of women’s fashion and beauty products for either a USD49.95 or USD59.95 monthly subscription. Customers can also trade the items online until, adding social and gaming components to the shopping experience. The funding will be used to expand its marketing and merchandising teams, fuel customer acquisition and add new brand partners.

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